eMASON's Clarifire earns certification on loan mods from Fannie Mae
eMASON Inc. has announced its Clarifire application has been certified by Fannie Mae for loan modification workout rules. The Clarifire application features a financial calculator and loss mitigation rules engine already certified by Fannie Mae for HomeSaver Advance and pre-foreclosure sales, in addition to modifications. Certification for the Home Affordable Modification Program (HAMP) workout type is underway and expected this month.
The Clarifire application is a Web-based process automation technology solution that streamlines workflow as it automates, providing eMASON clients, and their partners and borrowers, real-time easy access to their business processes, workout rules and results--increasing efficiencies and reducing costs. Through Clarifire's open architecture, the application provides the ability to import loans in bulk and automatically generate workout results. Servicers can contact the company about direct connectivity that includes bulk onboarding, data management, certified automated decisioning, submissions and closings.
Fannie Mae has also adopted Clarifire to automate their internal processes relating to managing servicer submissions and approvals in-house, with the servicer pilot rollout underway. This new use of Clarifire will automate approvals and streamline workflow internally at Fannie Mae and further reduce workout cycle times.
"eMASON is the single solution, single-point of resolution. Clarifire offers the only technology that mitigates the pace of change and puts the power to make changes on-the-fly in the business end-users hands," said Jane Mason, CEO and president of eMASON, Inc. "We're extremely proud of our progress and ability to consistently understand client needs and quickly implement cutting-edge business solutions that reduce risk and cost of change."
Clarifire provides an end-to-end technology solution for loss mitigation that is unrivaled with its ability to automate the workout process at all stages. From automatically presenting minimum qualifications and certified workout options, automatically determining workout delegation and submission qualifications, to providing completed workouts to Fannie Mae for approving and closing cases, Clarifire is an all in one solution.
Clarifire also features a direct connection to Fannie Mae, eliminating the need for Servicers to update through HSSN. The application has already proven success to Fannie Mae and its servicers by reducing the cycle times associated with providing workout options to the borrowers in need; now one more step has been eliminated.
More than 20,000 users currently rely on Clarifire to automate their workflow. For Loss Mitigation, more than 110 attorney firms and 24 mega-servicers in the Fannie Mae network use the Clarifire application.
For more information, visit www.emason.biz.
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